New York Mortgage Trust Stock Forecast
New York Mortgage Trust stock upgraded to Sell Candidate.
(Updated on May 07, 2024)
No changes to the price of New York Mortgage Trust stock on the last trading day (Tuesday, 7th May 2024). During the last trading day the stock fluctuated 1.55% from a day low at $6.12 to a day high of $6.22. The price has fallen in 7 of the last 10 days and is down by -14.58% for this period.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.14 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -9.11% during the next 3 months and, with a 90% probability hold a price between $5.58 and $6.45 at the end of this 3-month period.
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NYMT Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The New York Mortgage Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.52 and $6.96. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for New York Mortgage Trust stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0950 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 6.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NYMT) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect New York Mortgage Trust to open at $6.16, and during the day (based on 14 day Average True Range), to move between $5.90 and $6.40, which gives a possible trading interval of +/-$0.245 (+/-3.99%) up or down from last closing price. If New York Mortgage Trust takes out the full calculated possible swing range there will be an estimated 7.98% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.27, some $0.115 (1.87%) from the current price of $6.15, our system finds the risk reward not very attractive.
Is New York Mortgage Trust stock A Buy?
New York Mortgage Trust holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.406 Sell Candidate Upgraded
Predicted Opening Price for New York Mortgage Trust of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$6.16 ( 0.190%) | $6.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NYMT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.26 | 1.73 % | |
R2 | 6.22 | 1.14 % | ||
R1 | 6.20 | 0.780 % | ||
Current price: | 6.15 | |||
Support | S1 | 6.13 | -0.400 % | |
S2 | 6.10 | -0.765 % | ||
S3 | 6.07 | -1.36 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.21 | 17.24 % | |
R2 | 7.10 | 15.45 % | ||
R1 | 6.27 | 1.87 % | ||
Current price | 6.15 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
NYMT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 13, 2024 | Mar 22, 2024 | Apr 25, 2024 | $0.200 | 2.87% |
2 | Dec 14, 2023 | Dec 22, 2023 | Jan 26, 2024 | $0.200 | 2.39% |
3 | Sep 11, 2023 | Sep 20, 2023 | Oct 26, 2023 | $0.300 | 3.96% |
4 | Jun 06, 2023 | Jun 15, 2023 | Jul 26, 2023 | $0.300 | 2.86% |
5 | Mar 09, 2023 | Mar 17, 2023 | Apr 26, 2023 | $0.400 | 4.01% |
FAQ
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